Business models for networked industry
Bosch and Munich Re agree partnership
Bosch and reinsurer Munich Re want to jointly develop new business ideas in the field of Industry 4.0. Representatives from both companies signed a cooperation agreement to this effect at the IoT conference 'Bosch ConnectedWorld' in Berlin on February 22.
The aim of the cooperation is to combine the respective strengths of both players: Bosch 's in the areas of hardware, software and services, with Munich Re's in the area of risk and capital management. The holistic offering is intended to enable industrial customers to implement networking projects along the entire value chain with manageable risk and innovative financial instruments.
The two partners are currently developing specific solution packages together with customers in pilot projects. In workshops and on-site discussions, requirements are determined and implementation steps and financing concepts are defined. Specifically, the aim is to filter out precisely the information from machine and production data that is required for in-depth analysis and ultimately optimization of production. On this basis, the partners can, for example, derive maintenance requirements in a more targeted manner and define new models to minimize risks accordingly. Bosch and Munich Re provide sensor-based loss prevention measures and innovative financial instruments for risk transfer. A claims database and expertise in data analysis support the holistic risk management approach.
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